Ripple sees promise in carbon credit and gaming NFTs despite the market downturn

Ripple sees promise in carbon credit and gaming NFTs despite the market downturn

While Ripple CTO David Schwartz says he’s still more interested in payments, he’s also interested in carbon credits and gaming NFTs. “There are people who pay people to do stupid things… You have to be smart,” Schwartz said, commenting on the dispersal of funds from Ripple’s $250 million creator fund.

While Ripple CTO David Schwartz says he’s still more interested in payments, he’s also interested in carbon credits and gaming NFTs. “We are very excited about carbon credits,” he said in an interview on November 29. in Miami after speaking at the Decentral conference. “The fit seems good. In ​​carbon credits, there is currently a real problem with the origin and ensuring things are not issued, such as not having two sets of carbon credits.

20210504 David Schwartz Ripple Forks Daily

Gaming, meanwhile, is another area ripe for development, as Schwartz says non-fungible tokens can help studios more easily get users to their latest products. “There are real problems in gaming that NFTs solve,” he said, noting that players are more familiar with older games and may be reluctant to follow developers on newer products. “You have to start from scratch, and there is a sense of loss. If you don’t have that sense of loss, you’re more likely to switch to whatever game the game studio wants you to play.

Creator fund

Ripple is not currently building consumer apps directly but is looking for partners who can leverage the XRP ledger for its low-cost and fast capabilities. Some initial hesitation. “If I give you enough money, you’ll do something that doesn’t make sense, right?” they said. “There’s no need for you to jump around and cluck like a chicken, and if I give you $1,000, you could do it, and I could say, ‘Look, that’s a real use case. It’s a real solution.” 

I’m paying you to do something. Ripple went ahead with its fund to encourage the development of realistic projects in meaningful ecosystems, Schwartz said, adding that Ripple typically requires developers first to raise external funds and build a minimally viable product before funds from Ripple’s creators be distributed.

There are people who pay people to do stupid things,” Schwartz said. “So, if you want people to build projects that will be successful and avoid being locked into blockchains with high fees and poor performance, or being locked into issuing a token that doesn’t make sense for your project, you have to the money is a part. You must be smart… You must be careful not to create the illusion of success and progress.

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